Five has quit Project Canvas – the BBC venture that will allow allow users to watch catch-up TV services such as the BBC iPlayer as well as standard TV services over an internet-connected set-top box.
The channel, which would have been required to stump up £16m in funding for the project, said it didn't view the scheme as a priority. Five was recently put up for sale by its owners RTL.
"Despite withdrawing our interest in the venture we believe it will be a critical part of our strategy for reaching consumers in the future," said Charles Constable, director of strategy at Five.
Project Canvas' director Richard Halton: "They share our goal of bringing the benefits of internet-connected TV to all. We look forward to working with them as a content provider to the platform in the future".
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